Option Block 478: What the Hell Are Second Order Greeks

Trading Block: Stocks fall as ECB, Fed weigh next moves. White says short selling getting her "intense attention."

Earnings:  

• Before the bell today:  Kohls Corporation, Viacom
• After the bell today:  Applied Materials, Inc., Cisco Systems
• CSCO - $27.94, ATM Straddle: $1.40 - Approx. 5%
• Stocks to Watch: Kohls, Advance Auto Parts, Derma Sciences

Odd Block: Puts trading in United States Steel Corp. (X), calls trade in Microsoft Corp (MSFT), and puts trade in Atwood Oceanics Inc. (ATW)

Listener Mail: Listener questions and comments

• Question from OptionDummy: Are there any additional nuances with a name reporting earnings on Expiration Friday?
• Question from Cookie: What is the best online broker for stocks and futures options?
• Question from Cspell: I'm interested to get OI's thoughts on second order greeks. I don't recall them ever being mentioned on any of your shows before. I don't see too much mentioned about them in general, even in the hinterlands although I have recently seen them talked about on another site and they tout them as the holy grail so to speak. Thanks!

Around the Block: Earnings on Friday: J.C. Penney, Tyco International; Nov 12: Jobless Claims, JOLTS and Treasury Budget; Nov 13: PPI, Retail Sales and Consumer Sentiment; on Friday, the Commerce Department reports U.S. retail sales for the month of October, when retail sales likely increased 0.3%.